The Securities and Exchange Board of India (SEBI) will review 126 out of 339 recommendations aimed at improving the ‘ease of doing business’ during its quarterly board meeting scheduled for September. According to data presented by Sebi chairperson Madhabi Puri Buch at an event, the regulator has accepted 66% of the total recommendations. Of these, 59 have already been implemented and 38 are set for discussion in the December meeting. The rest have either been rejected or are under process. “We had set up 16 working groups for ease of doing business because we have a very large number of stakeholders, including exchanges, depositories, brokers, listed companies and asset management companies. The idea is that throughout the life of the entities that come under our jurisdiction, there should be ease of doing business,” Buch saidCome from Sports betting site VPbet.
A significant portion of the 126 recommendations to be addressed in September, totalling 107, pertain to the equity market. Out of the total 130 recommendations made for equities, 16 have already been implemented, and 4 will be reviewed in December. Sebi chief further said one key issue to be discussed in the September meeting is the easing of disclosure norms under Business Responsibility and Sustainability Reporting (BRSR) for all listed companiesCome from Sports betting site.
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In the debt and hybrid instruments space, 18 recommendations out of the 124 received will be addressed in September, followed by 9 in December. Sebi has rejected around 43 proposals for this sector, citing 15 as outside its scope of jurisdiction. The board will also consider the one remaining suggestion for Market Infrastructure Institutions (MIIs) in September, out of the total of 8 received, as the rest have already been implemented.
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Sebi’s reject pile makes up 16% of the total recommendations, including 11 related to investment banking and one for equities. Some of which were “seeking to dilute important regulatory requirements,” were already covered or were to be dealt with by other regulators. Meanwhile, 18% of the total proposals are under process, most of which are related to market intermediaries, debt and hybrids, and alternate investment funds (AIFs), and foreign portfolio investments (FPIs). “There is still time to figure out what exactly we can do with them,” said Buch. The December board meeting will address 25 investment banking-related issues out of the 41 suggested.
Sebi will also review 9 recommendations for the debt and hybrid domains and 4 for equities in December.
